Commodity Tips for today : 11th may 2012

Gold prices are likely to head lower to the tune of 28250 – 28180. One can sell on rise around 28500 with a stop loss above 28640.oscillators are  heading down.

LEVEL R-28670/28760
S-28350/28100

Silver prices are expected to trade lower and test 53800. Oscillators are in over sold zone hence aggressive selling not advised.
LEVEL
R-54800/55300
S-54200/53800

Copper prices are expected to trade within a range from 432 to 440, one can sell around  437  -438 with a stop loss above 441.  A break below 432 can witness selling to continue till 428.Oscillators indicating flat to down move.
LEVEL
R-439/442
S-432/428

Crude prices are witnessing resistance at 5225 – 5235 on higher end.And  holding the support at 5125.  Prices  are expected to trade lower below 5125.Oscillators are in negative territory
LEVEL
R-5235/5275
S-5125/5056

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Forecasts for Commodity Market : Gold, silver, Copper, Crude

Gold commodity Forecasts

We have been seeing selling pressure on comex gold but due to rupee depreciation mcx gold is  showing strength if the counter breaches 29080 then we can see further fall till  28900-28700.Till the time wait and watch for Gold commodty or buy above 28300. Very imp data points for today commodity to set the direction for market today. Resistance level expected for Gold is 29310/29425
and support level expected for Gold is 29080/28950 .

Silver Commodity Forecasts

Silver prices  are trading in range bound in today's commodity market and  shoeing weakness on chart should wait for breakout on either side. Till the time we can trade in silver between  56000 and 57700. Very imp data points today to set the direction for market today. Expected range for silver may be resistance level is 57750/58100 and support level is 56850/56500.


Copper Commodity

Copper Commodity Forecasts

Yesterday copper prices are in correction mode as we said we should wait for the copper level till 440-438 mark to initiate long positions and till the time we can sell copper on rise till 446-47 with strict s/l of 451.2. very imp data points today to set the direction for market today. Today's expected copper commodity levels are resistance level 449/ 454 and support levels 444/441.

Crude Commodity Forecasts

We have seen a sharp fall in crude process yesterday. Today in crude we can see some support at 5470-60 go long and go short at 5570-90 with s/l of 5638. Very imp data points today to set the direction for market today. Levels for today's market are resistanc levels are 5570/5630 and support levels are 5470/5410.

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